Ghana's opposition New Patriotic Party (NPP) has called for an independent investigation into an alleged GHS 20.4 billion (equivalent to $1.7 billion) loss by the Ghana Gold Board (GoldBod). The party's Volta Regional Secretariat described the matter as too serious for political dispute. Ghanaians deserve to understand how this significant loss occurred and who bears responsibility.
Mr. Makafui Kofi Woanya, the NPP Volta Regional Chairman, addressed a press conference in Ho on Tuesday. He urged Parliament to thoroughly pursue the matter and make its findings public. Mr. Woanya also called on citizens to demand accountability from those managing the nation's resources. He criticized responses from GoldBod's Acting Chief Executive Officer, Mr. Sammy Gyamfi, as unhelpful. These responses, he stated, failed to address the core question of how such a large sum could be lost.
This alleged loss comes at a critical time for Ghana's economy, which relies heavily on its natural resources, including gold. The country has faced fiscal challenges and a depreciating currency, making efficient resource management vital. Previous reports have highlighted issues within the mining sector, including illegal mining activities known as 'galamsey'. This situation adds pressure on public institutions to demonstrate robust financial governance and transparency.
Mr. Woanya stated, "GoldBod is a public institution and must account to Ghanaians." He emphasized that the issue requires facts and accountability, not insults. He further called on President John Dramani Mahama to remove Mr. Gyamfi from office. Mr. Woanya alleged that Mr. Gyamfi's conduct was inconsistent with the government's code of conduct for public officials. He pointed out that the government had introduced an ethics code to guide public officials.
The implications of such a substantial alleged loss are far-reaching for Ghana's public finances and development agenda. A confirmed loss of GHS 20.4 billion could severely impact the government's ability to fund essential services. It could also erode public trust in state-owned enterprises. Decision-makers will face pressure to ensure a swift and transparent investigation. Markets and investors will closely watch the government's response to these allegations. The outcome could influence future investment in Ghana's critical mining sector.
Mr. Woanya highlighted that the alleged GHS 20.4 billion loss represents resources that could have significantly improved Ghanaians' lives. This money could have funded schools, roads, health facilities, and potable water projects. Many communities still face severe development challenges, making the proper use of such funds crucial. The NPP chairman appealed to the Majority in Parliament to support the probe. He asked them to allow the investigating committee to work without political interference. He stressed that the alleged loss should be treated as a national tragedy, not a partisan dispute.
He further questioned Mr. Gyamfi's financial standing before his appointment to GoldBod. Mr. Woanya claimed Mr. Gyamfi was not known to have operated any major business. He also referenced a social media video allegedly showing Mr. Gyamfi giving dollar notes to Nana Agradaa. Mr. Woanya questioned whether the government had properly established the source of these funds. Ghanaians have a right to demand accountability from public officials, especially when questions arise about financial dealings.
The alleged financial loss is only one of several challenges confronting Ghana's gold sector. Mr. Woanya pointed to the continued destruction caused by illegal mining. This 'galamsey' has polluted rivers and other water bodies. It has also destroyed vegetation and poses a growing threat to the Volta Lake. Thousands of people depend on the Volta Lake for their livelihoods. Some tributaries of the lake are drying up, which could have serious consequences for these communities. Mr. Woanya reiterated his call for a comprehensive investigation into the alleged GHS 20.4 billion loss. He stated that the findings should strengthen accountability and prevent similar occurrences in managing Ghana's gold resources.